STOCKHOLM – Betsson said Tuesday it will acquire Rhino Entertainment Group’s Canadian consumer‑facing business and several of its technology assets in a deal valued at EUR 64.5 million (about $74.3 million), expanding the Swedish company’s footprint in one of North America’s fastest‑growing online gambling markets.
The acquisition includes multiple Rhino entities that hold the group’s Canadian licenses, operational teams, and customer‑facing brands. Rhino, founded in 2020 and led by CEO Ross Parkhill, operates seven global brands, including Casino Days, and has served Canadian players since securing a Kahnawake license in 2022.
Betsson will also acquire Rhino’s proprietary front‑end and middleware technology, which the company said will strengthen its B2B platform and support additional licensing revenue.
Rhino’s assets generated an estimated $15.9 million in EBITDA in 2025, according to Betsson.
Under the terms of the deal, Betsson will make an initial payment of about $59.5 million at closing, with the remaining balance due six months later. The company said it will fund the transaction with existing cash reserves.
Betsson CEO Pontus Lindwall has previously signaled that shareholders are focused on scaling the company’s opportunities while maintaining the strong returns delivered in 2025. Betsson reported record revenue and profits last year, and its shares rose more than 6% in early trading Tuesday on Nasdaq Stockholm following the announcement.
The acquisition supports Betsson’s strategy of expanding its B2C presence in regulated markets while growing its B2B technology licensing business. Canada’s evolving regulatory landscape — including Ontario’s open licensing model — has attracted a wave of international operators seeking growth.
The deal is expected to close in the second or third quarter of 2026, pending regulatory approvals.
